JPMorgan Chase & Co. Upgrades Zimmer Biomet (NYSE:ZBH) to Overweight

Zimmer Biomet (NYSE:ZBH - Get Free Report) was upgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm presently has a $128.00 price objective on the medical equipment provider's stock, up from their previous price objective of $125.00. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 18.43% from the company's previous close.

Several other equities analysts also recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Evercore ISI decreased their price target on shares of Zimmer Biomet from $113.00 to $110.00 and set an "in-line" rating for the company in a research note on Tuesday, October 1st. Royal Bank of Canada boosted their price objective on shares of Zimmer Biomet from $120.00 to $125.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Barclays cut their target price on shares of Zimmer Biomet from $125.00 to $118.00 and set an "underweight" rating on the stock in a report on Thursday, December 12th. Finally, Truist Financial boosted their price objective on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a "hold" rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Zimmer Biomet currently has an average rating of "Hold" and an average target price of $123.28.

Zimmer Biomet Stock Up 1.2 %

NYSE:ZBH traded up $1.23 during midday trading on Tuesday, reaching $108.08. 1,896,452 shares of the stock traded hands, compared to its average volume of 1,488,031. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. Zimmer Biomet has a 12-month low of $101.47 and a 12-month high of $133.90. The stock has a market capitalization of $21.52 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The business has a 50-day moving average of $107.78 and a two-hundred day moving average of $108.60.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the firm posted $1.65 earnings per share. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities analysts forecast that Zimmer Biomet will post 7.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zimmer Biomet

Large investors have recently modified their holdings of the company. Dunhill Financial LLC lifted its position in Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider's stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Zimmer Biomet during the third quarter worth approximately $28,000. Bangor Savings Bank purchased a new position in shares of Zimmer Biomet during the third quarter worth approximately $31,000. Family Firm Inc. purchased a new position in shares of Zimmer Biomet during the second quarter worth approximately $33,000. Finally, Brooklyn Investment Group purchased a new position in shares of Zimmer Biomet during the third quarter worth approximately $35,000. 88.89% of the stock is currently owned by institutional investors.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.